M-LEASE: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
M-LEASE
Largest movements
- Receivables within one year -€238,762
down €238,762 (-38.0%), from €628,349 to €389,587
of which Trade receivables: -€238,964
- Stocks and contracts -€149,247
down €149,247 (-19.0%), from €783,979 to €634,732
- Tangible fixed assets +€80,802
up €80,802 (+255%), from €31,743 to €112,545
of which Furniture and vehicles: +€48,298
- Cash -€37,422
down €37,422 (-31.7%), from €118,017 to €80,595
mainly Trade debts (-€291,447) and Investment in fixed assets (net) (-€103,058)
- Trade debts -€291,447
down €291,447 (-57.8%), from €504,279 to €212,832
- Tax, wage and social debts -€37,092
down €37,092 (-34.3%), from €108,076 to €70,984
- Reserves +€36,561
up €36,561 (+13.1%), from €279,017 to €315,578
- Other debts -€36,098
down €36,098 (-14.3%), from €252,909 to €216,811
- Debts after one year -€16,741
down €16,741 (-4.1%), from €404,121 to €387,380
- Financial charges -€67,784
down €67,784 (-95.7%), from €70,799 to €3,015
- Gross operating margin -€40,267
down €40,267 (-31.0%), from €130,011 to €89,743
- Write-downs +€21,831
no longer reported in 2024 (was -€21,831)
- Depreciation +€14,974
up €14,974 (+206%), from €7,282 to €22,256
- Staff costs +€1,799
new in 2024: €1,799
From the 2023 result to the 2024 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,569,587 | €1,224,958 | -€344,630 | -22.0% |
| Fixed assets | 21/28 | €39,243 | €120,045 | +€80,802 | +206% |
| Tangible fixed assets | 22/27 | €31,743 | €112,545 | +€80,802 | +255% |
| Land and buildings | 22 | €20,745 | €53,249 | +€32,503 | +157% |
| Furniture and vehicles | 24 | €10,998 | €59,296 | +€48,298 | +439% |
| Financial fixed assets | 28 | €7,500 | €7,500 | = | 0.0% |
| Current assets | 29/58 | €1,530,344 | €1,104,913 | -€425,431 | -27.8% |
| Stocks and contracts in progress | 3 | €783,979 | €634,732 | -€149,247 | -19.0% |
| Stocks | 30/36 | €783,979 | €634,732 | -€149,247 | -19.0% |
| Amounts receivable within one year | 40/41 | €628,349 | €389,587 | -€238,762 | -38.0% |
| Trade receivables | 40 | €628,349 | €389,385 | -€238,964 | -38.0% |
| Other amounts receivable | 41 | - | €202 | +€202 | |
| Cash at bank and in hand | 54/58 | €118,017 | €80,595 | -€37,422 | -31.7% |
| Total equity and liabilities | 10/49 | €1,569,587 | €1,224,958 | -€344,630 | -22.0% |
| Equity | 10/15 | €284,017 | €320,578 | +€36,561 | +12.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €279,017 | €315,578 | +€36,561 | +13.1% |
| Distributable reserves | 133 | €279,017 | €315,578 | +€36,561 | +13.1% |
| Amounts payable | 17/49 | €1,285,570 | €904,380 | -€381,190 | -29.7% |
| Amounts payable after more than one year | 17 | €404,121 | €387,380 | -€16,741 | -4.1% |
| Financial debts | 170/4 | €404,121 | €387,380 | -€16,741 | -4.1% |
| Amounts payable within one year | 42/48 | €881,450 | €517,000 | -€364,449 | -41.3% |
| Current portion of amounts payable after more than one year | 42 | €16,186 | €16,374 | +€188 | +1.2% |
| Trade debts | 44 | €504,279 | €212,832 | -€291,447 | -57.8% |
| Suppliers | 440/4 | €504,279 | €212,832 | -€291,447 | -57.8% |
| Taxes, remuneration and social security | 45 | €108,076 | €70,984 | -€37,092 | -34.3% |
| Taxes | 450/3 | €108,076 | €70,984 | -€37,092 | -34.3% |
| Other amounts payable | 47/48 | €252,909 | €216,811 | -€36,098 | -14.3% |
| Remuneration, social security and pensions | 62 | - | €1,799 | +€1,799 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,282 | €22,256 | +€14,974 | +206% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€21,831 | - | +€21,831 | |
| Other operating charges | 640/8 | €7,168 | €6,724 | -€444 | -6.2% |
| Gross operating margin | 9900 | €130,011 | €89,743 | -€40,267 | -31.0% |
| Operating profit (loss) | 9901 | €137,392 | €58,964 | -€78,427 | -57.1% |
| Financial income | 75/76B | - | €702 | +€702 | |
| Recurring financial income | 75 | - | €702 | +€702 | |
| Financial charges | 65/66B | €70,799 | €3,015 | -€67,784 | -95.7% |
| Recurring financial charges | 65 | €70,799 | €3,015 | -€67,784 | -95.7% |
| Profit (loss) for the period before taxes | 9903 | €66,593 | €56,651 | -€9,942 | -14.9% |
| Income taxes | 67/77 | €20,182 | €20,090 | -€92 | -0.5% |
| Profit (loss) for the period | 9904 | €46,411 | €36,561 | -€9,850 | -21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €46,411 | €36,561 | -€9,850 | -21.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.